Encompass More Asset Management Invests $5.59 Million in iShares Bitcoin Trust (NASDAQ:IBIT)

Encompass More Asset Management purchased a new position in iShares Bitcoin Trust (NASDAQ:IBIT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 154,660 shares of the company’s stock, valued at approximately $5,588,000. iShares Bitcoin Trust makes up about 2.1% of Encompass More Asset Management’s investment portfolio, making the stock its 6th biggest holding.

Other hedge funds have also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc bought a new position in iShares Bitcoin Trust in the 2nd quarter valued at approximately $26,000. Asset Dedication LLC lifted its position in iShares Bitcoin Trust by 52.4% in the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after acquiring an additional 279 shares in the last quarter. International Assets Investment Management LLC bought a new position in iShares Bitcoin Trust in the 2nd quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in iShares Bitcoin Trust in the 2nd quarter valued at approximately $36,000. Finally, Hantz Financial Services Inc. bought a new position in iShares Bitcoin Trust in the 2nd quarter valued at approximately $36,000.

iShares Bitcoin Trust Trading Up 0.3 %

Shares of IBIT opened at $55.21 on Friday. The firm has a fifty day simple moving average of $42.45 and a two-hundred day simple moving average of $38.07. iShares Bitcoin Trust has a 1-year low of $22.02 and a 1-year high of $56.86.

iShares Bitcoin Trust Profile

The IShares Bitcoin Trust Registered (IBIT) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is a passively managed fund that seeks to track the spot price of Bitcoin. IBIT was launched on Jan 5, 2024 and is issued by BlackRock.